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Innio Completes Carve-out from General Electric
Wednesday 07 November 2018

7 November 2018 – US-based private equity firm Advent International has completed the acquisition of GE's (NYSE: GE) Distributed Power business and is now a stand-alone energy company rebranded as Innio, the firm said.

The transaction includes the Jenbacher and Waukesha product lines, the digital platform and related services offerings, with main operating sites in Austria, Canada and the United States.

Innio has a track record of more than 80 years of reciprocating engine heritage in distributed power generation and gas compression.

Innio is positioned in the USD 5bn global gas engine sector, with growth anticipated to be a mid to high single-digit rate per annum, driven by the rising demand for affordable, reliable and sustainable solutions for power generation and gas compression near or at the point of use.

The master brand Innio will operate as a platform connecting two powerful product brands linked by a digital solution.

Innio is a solutions provider of gas engines, power equipment, a digital platform and related services for power generation and gas compression at or near the point of use.

Its portfolio of reliable, economical and sustainable industrial gas engines generates 200kw to 10mw of power for numerous industries globally.

Headquartered in Jenbach, Austria, the business also has primary operations in Welland, Ontario, Canada, and Waukesha, Wisconsin, US.
Details
Date Published: 07/11/2018
Target: Innio (GE Distributed Power business)
Country: Austria
Sector: Utilities
Type: LBO
Financing:
Status: Closed
Vendor: GE
Buyer: Advent International
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